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Annual inflation in Zimbabwe hit 55.3% in March 2024. [8] The ZiG is notionally divided into 100 cents, which were first used by the Zimbabwe Stock Exchange before the currency had an ISO code. Cents were officially recognized by the Reserve Bank of Zimbabwe when a currency code for the Zimbabwe Gold was introduced in June 2024. [9]
On 29 January 2009, the Zimbabwean government legalised the use of foreign currencies, such as the United States dollar and the South African rand.In response, Zimbabweans quickly abandoned the old Zimbabwean dollar, which was collapsing from what was at the time the second-highest ever rate of hyperinflation in the world (after the Hungarian pengő in 1946).
White immigration to the Company realm was initially modest, but intensified during the 1900s and early 1910s, particularly south of the Zambezi. The economic slump in the Cape following the Second Boer War motivated many white South Africans to move to Southern Rhodesia, and from about 1907 the company's land settlement programme encouraged more immigrants to stay for good. [5]
The death toll from a shaft collapse at a disused gold mine in Zimbabwe was expected to rise to 13, the vice president said, according to state media. State-run newspaper The Sunday Mail quoted ...
Indigenisation in the public services displaced many white people. The result was that white emigration gathered pace. In the ten-year period from 1980 to 1990, approximately two-thirds of the white community left Zimbabwe. [47] However, many white people resolved to stay in the new Zimbabwe; only one-third of the white farming community left.
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GDP growth in Zimbabwe is projected to reach 3.9% in 2021, a significant improvement after a two-year recession, according to the World Bank Zimbabwe Economic Update. [ 114 ] 2023 Zimbabwean general election
Zimbabwe has been in talks with creditors, led by the African Development Bank, since 2022 to restructure its $21 billion in debt, with the white farmers’ compensation a sticking point. In 2020, President Emmerson Mnangagwa’s government signed a compensation deal with the white farmers.